Noelle invests $40,000 in the existing partnership in exchange for 20% interest in capital and 20% interest in profits and losses. The exiting partnership is characterized as follows:
Existing partners
Capital balances
% interest in Capital
% interest in
Profit
Santa
$50,000
30%
40%
Ana
$60,000
70%
60%
Under the bonus method, how much of capital granted or charged to Santa?
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